Educational loan to deserving\/meritorious students for pursuing higher education and professional courses in india and abroad in reputed Universities\/Institutions.<\/p>\n\n\n\n
Objective:
Financial support to deserving\/meritorious students for pursuing education courses in India & abroad, so that No deserving students to denied an opportunity to pursue higher education for want of financial support.
Purpose:
For studies in College and other educational instiution.
For fees, Hostel Fees, Books, Equipment, Study tour, exam fees, air ticket.
Eligible Persons:
Loans can be granted only to Indian Nationals with 60% in the qualifying examination.
Who have secured admission to the eligible course in reputed institutes of Nation\/State level through entrance test\/selection process.
Secured admission to foreign university\/institution.
Eligible Studies In India:
Professional courses like Engineering, Medical, Dental, Management etc.
Course conducted by IIM,IIT, IISc, NIFT, National law school OR Equivalent institutions\/universities, Indian Business School, Hyderabad and other reputed National Institutes, etc.
Course like ICWA, CA, CFA etc.
At Abroad:<\/p>\n\n\n\n
Educational loan to deserving\/meritorious students for pursuing higher education and professional courses in india and abroad in reputed Universities\/Institutions.
Quantum:
For studies in India Maximum Rs. 40.00 lakhs.
For studies abroad Maximum Rs. 40.00 lakhs.
Margin:
Up to Rs. 10.00 lakhs – NIL.
Above Rs. 10.00 lakhs – Studies in India 5%, Studies in abroad 10%.
Security:
Up to Rs. 10.00 lakhs – No security for loans, to be given jointly with parent\/guardian. But surity is mandatory.
For above Rs. 10.00 lakhs loans.
Loans should be jointly with parent\/guardian.
Satisfactory Guarantee.
Assignment of future income of the student.
Loans to be jointly with parent\/Guaradian and collateral security equal to 100% of loan amount or Coobligantion of III party having required Net worth not less than loan amount.
Collateral security in form of Land\/Building\/Govt. Securities\/Gold\/Deposits\/salary certificate\/Post dated cheques.
For Medical Courses-security of immovable property value equal to 150% of loan amount.
Interest:
9.00% p.a. or As per the rates prescribed\/notified by the Bank from time to time.
Processing Charges:
No Processing Fee
Repayment:
Repayment period is 60 months from commencement of the repayment.
Repayment to begin after 1 year of completion of course OR 6 months of getting employment whichever is earlier.
EMI to be arrived at the outstanding amount when the repayment starts (Principal + Applicable Int rate at that time).
Disbursement:
As far as possible directly to institution by way of Demand Draft for Fees\/Hostel Fees etc.
Documentation:
Application, Income Proof for repyament.
Pronote\/Pronote covering letter.
Stamped Agreement.
Guarantors\/Co-Obligant Income Proof.
Deed of Agreement cum Hypothecation\/Mortgage of property as the case may be.
Loans to employed persons:
NOC from employer to be insisted.
Repayment based on the Income.
For loan upto Rs.25,000\/- co obligation of third party.
For loan above Rs.25,000\/- approved securities.
Suitable repayment schedule to be fixed depending on income level of the applicant without giving repayment holiday for interest\/principal.<\/p>\n","protected":false},"excerpt":{"rendered":"
Educational loan to deserving\/meritorious students for pursuing higher education and professional courses in india and abroad in reputed Universities\/Institutions. Objective: Financial support to deserving\/meritorious students for pursuing education courses in India & abroad, so that No deserving students to denied an opportunity to pursue higher education for want of financial support. Purpose: For studies in College and other educational instiution.For fees, Hostel Fees, Books, Equipment, Study tour, exam fees, air ticket. Eligible Persons: Loans can be granted only to Indian Nationals with 60% in the qualifying examination.Who have secured admission to the eligible course in reputed institutes of Nation\/State level through entrance test\/selection process.Secured admission to foreign university\/institution. Eligible Studies In India: Professional courses like Engineering, Medical, Dental, Management etc.Course conducted by IIM,IIT, IISc, NIFT, National law school OR Equivalent institutions\/universities, Indian Business School, Hyderabad and other reputed National Institutes, etc.Course like ICWA, CA, CFA etc. At Abroad: Educational loan to deserving\/meritorious students for pursuing higher education and professional courses in india and abroad in reputed Universities\/Institutions. Quantum: For studies in India Maximum Rs. 40.00 lakhs.For studies abroad Maximum Rs. 40.00 lakhs. Margin: Up to Rs. 10.00 lakhs – NIL.Above Rs. 10.00 lakhs – Studies in India 5%, Studies in abroad 10%. Security: Up to Rs. 10.00 lakhs – No security for loans, to be given jointly with parent\/guardian. But surity is mandatory. For above Rs. 10.00 lakhs loans.Loans should be jointly with parent\/guardian.Satisfactory Guarantee.Assignment of future income of the student.Loans to be jointly with parent\/Guaradian and collateral security equal to 100% of loan amount or Coobligantion of III party having required Net worth not less than loan amount.Collateral security in form of Land\/Building\/Govt. Securities\/Gold\/Deposits\/salary certificate\/Post dated cheques.For Medical Courses-security of immovable property value equal to 150% of loan amount. Interest: 9.00% p.a. or As per the rates prescribed\/notified by the Bank from time to time. Processing Charges: No Processing Fee Repayment: Repayment period is 60 months from commencement of the repayment.Repayment to begin after 1 year of completion of course OR 6 months of getting employment whichever is earlier.EMI to be arrived at the outstanding amount when the repayment starts (Principal + Applicable Int rate at that time). Disbursement: As far as possible directly to institution by way of Demand Draft for Fees\/Hostel Fees etc. Documentation: Application, Income Proof for repyament.Pronote\/Pronote covering letter.Stamped Agreement.Guarantors\/Co-Obligant Income Proof.Deed of Agreement cum Hypothecation\/Mortgage of property as the case may be. Loans to employed persons: NOC from employer to be insisted.Repayment based on the Income.For loan upto Rs.25,000\/- co obligation of third party.For loan above Rs.25,000\/- approved securities.Suitable repayment schedule to be fixed depending on income level of the applicant without giving repayment holiday for interest\/principal.<\/p>\n","protected":false},"author":1,"featured_media":1353,"parent":1251,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"inner-page-retail-banking.php","meta":{"footnotes":""},"class_list":["post-1328","page","type-page","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/karnatakaapex.bank.in\/new\/wp-json\/wp\/v2\/pages\/1328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/karnatakaapex.bank.in\/new\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/karnatakaapex.bank.in\/new\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/karnatakaapex.bank.in\/new\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/karnatakaapex.bank.in\/new\/wp-json\/wp\/v2\/comments?post=1328"}],"version-history":[{"count":3,"href":"https:\/\/karnatakaapex.bank.in\/new\/wp-json\/wp\/v2\/pages\/1328\/revisions"}],"predecessor-version":[{"id":2993,"href":"https:\/\/karnatakaapex.bank.in\/new\/wp-json\/wp\/v2\/pages\/1328\/revisions\/2993"}],"up":[{"embeddable":true,"href":"https:\/\/karnatakaapex.bank.in\/new\/wp-json\/wp\/v2\/pages\/1251"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/karnatakaapex.bank.in\/new\/wp-json\/wp\/v2\/media\/1353"}],"wp:attachment":[{"href":"https:\/\/karnatakaapex.bank.in\/new\/wp-json\/wp\/v2\/media?parent=1328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}